The Investment Objective of the Sub-Fund is to generate long-term risk adjusted returns through investments in different asset classes of companies predominantly established or operating within the Greater China area, which includes the People’s Republic of China (PRC), including Hong Kong and Macau, and also Taiwan, by implementing a long-short equity strategy with a long bias.

?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.

2.2%

Fund size

£33m

FE Risk score

?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.

?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.

-

Beta

?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.

-

Sharpe

?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.

-

Volatility

?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.

-

Tracking error

?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.

-

Information ratio

?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.

-

R-Squared

?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.

-

Price movement

52 week high105.9

52 week low90.94

Current bid price-

Current offer price-

Current mid price101.22

Region

1

China

36.31%

2

Others

13.89%

3

Hong Kong

4.82%

4

Taiwan

0.97%

Industry sector

1

Consumer Discretionary

26.41%

2

Information Technology

21.77%

3

Materials

10.53%

4

Health Care

9.87%

5

Industrials

2.91%

6

Utilities

-3.34%

7

Others

-12.14%

Asset type

No data available.

Individual holdings

1

SHENZHOU INTERNATIONAL GROUP HLDGS

7.62%

2

ALIBABA GROUP HLDG LTD

6.83%

3

HANGZHOU HIKVISION DIGITAL TECH CO

5.86%

4

CHINA HONGQIAO GROUP LTD

4.84%

5

UNIVERSAL DISPLAY CORP

4.63%

Management

Fund manager group

Merrill Lynch

Fund manager company

Merrill Lynch International

Fund type

Offshore Fund

Fund objective

The Investment Objective of the Sub-Fund is to generate long-term risk adjusted returns through investments in different asset classes of companies predominantly established or operating within the Greater China area, which includes the People’s Republic of China (PRC), including Hong Kong and Macau, and also Taiwan, by implementing a long-short equity strategy with a long bias.

Benchmark

No Specified Index

Investment style

Long/Short

Investment method

Equity

Fund manager

Name

Since

Biography

Ronald Chan

25/08/2014

Ronald Chan has been with our Group in various capacities since 1995, and has over 12 years of investment experience. Before joining Global Investors, Ronald was an investment analyst with National Mutual Fund Management Asia, and before that with Barclays Bank as credit analyst. Ronald graduated as an aeronautical engineer at The Imperial College, The University of London, followed by an MBA at the same university. He is a CFA charter-holder and is based in Hong Kong. Ronald has managed the Allianz Total Return Asian Equity Fund since May 2004.

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.

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